KnowledgeHut Acquired By upGrad To Scale Overseas Operations
- BySheetal Sidhu | August 3, 2021
Higher education and upskilling platform upGrad has acquired globally diversified edtech startup KnowledgeHut for an undisclosed sum. Post the acquisition, the Delaware-based startup will operate as a wholly-owned subsidiary of upGrad. The merger is expected to help upGrad expand its presence in international markets in North America, Middle East, and South-East Asia, where Knowledge Hut has users. This deal also comes shortly after upGrad announced that it has earmarked $250 million for inorganic growth in the next seven to nine months. Talking of the deal, upGrad Founder and Chairman Ronnie Screwvala said, “With KnowledgeHut on board, our focus on being an integrated ‘LifeLongLearning’ partner for powering career success for the global one billion workforce just got stronger. KnowledgeHut’s presence in 70+ countries will further upGrad’s ambition of liberalising quality online education around the world.”
In a statement, Subramanyam said, “With our focus on short-term professional upskilling, KnowledgeHut is driving outcome-based immersive learning for global technologists and the wider professional community. Given our position in global markets, this synergy with upGrad will further strengthen and support that vision. The acquisition paves the way for upGrad to empower B2B customer segments across geographies including the United States and the Asia Pacific.”
Follow Startup Story
Related Posts
